Adani Wilmar IPO: The Initial Public Offering (IPO) of Adani Wilmar received a good response from investors on the first day. This was the second IPO of 2022, after the AGS Transact Technologies public issue. Adani Wilmar is a Fast Moving Consumer Goods (FMCG) company, known for its edible oil ‘Fortune’.
The Adani Wilmar IPO is a fresh issue of equity shares of Rs 3,600 crore and no existing promoters or shareholders will sell any shares. The company said on Tuesday that it has raised Rs 940 crore from anchor investors.
The Adani Wilmar IPO consists of a fresh issue of fresh equity shares of face value of Re 1 for a value of up to Rs 3,600 crore, the filing said. Promoters and existing shareholders are not selling their stake in the issue through OFS.
Adani Wilmar IPO: Subscription Status
Adani Wilmar IPO was 100% subscribed till 2:30 PM on 28th Jan, this strong support from retail investors continued. So far the issue has been subscribed by investors 1.05 times. The retail portion of Adani Wilmar’s IPO has been subscribed 1.74 times, with investors bidding for 8.75 crore shares against 5.03 crore equity shares on offer.
Qualified institutional buyers (QIBs) subscribed 30 per cent and non-institutional investors 81 per cent.
Company shares in gray market today
The company’s shares are currently at a gray market premium (GMP) of 25 per cent, which is Rs 50 per share over the IPO price.
Where will the company use the funds?
Adani Wilmar said that out of the proceeds of the IPO, Rs 1,900 crore will be used for capital expenditure. At the same time, about Rs 1,058.9 crore will be used to reduce the debt on the company and the remaining Rs 450 crore will be spent on strategic acquisitions and other investment opportunities. Adani Wilmar is selling its shares in the IPO in the range of Rs 218-230.
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Most of the analyzes are excited about the prospects of this company post listing, advising investors to subscribe to the issue. He says that the company’s diversified portfolio, strong brand value and raw material sourcing capabilities can drive its growth in future. Let us tell you that Adani Wilmar sells its products in the market with the Fortune brand name.
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